La Société de projet BVH1, s.e.n.c. Announces a $960 Million Financing for Des Neiges – Secteur sud Wind Project
LA CÔTE-DE-BEAUPRÉ, Quebec, May 15, 2025 (GLOBE NEWSWIRE) -- La Société de projet BVH1, s.e.n.c., consisting of affiliates of each of Boralex Inc, Énergir Développement Inc and Hydro-Québec, is proud to announce having put in place a $960 million financing for the 400 MW Des Neiges - Secteur sud wind power project, currently under construction on the private lands of Seigneurie de Beaupré.
This project has the potential to be a major boost to Côte-de-Beaupré's economic development and to contribute to Québec's economic and climate resilience. It represents an investment of around $1 billion, and is projected to employ a total of around 500 people during the construction phase, in addition to creating some fifteen jobs during the operation and maintenance phases. Additionally, more than $80 million is expected to be distributed among the host communities, exclusively for the Secteur sud project.
'I would like to salute the outstanding collaboration with our partners Énergir and Hydro-Québec in the realization of this vital project for Québec,' said Hugues Girardin, Executive Vice President and General Manager, North America, Boralex. 'We've been fortunate enough to successfully develop and operate wind farms on the Seigneurie de Beaupré for nearly 15 years. It's the strength of this partnership that will enable us to bring the Des Neiges - Secteur sud project to fruition, thereby contributing to the province's energy independence and sustainable economic growth.'
'The financing of the Des Neiges - Secteur sud wind power project is a testament to Energir's commitment to diversifying our energy portfolio,' said Jean-François Jaimes, Executive Director of Renewable Energy & LNG Development, Énergir. "This project, driven by a collaboration between Quebec players, illustrates our shared desire to develop renewable energy solutions to meet the needs of our communities. We are proud to be part of it, and grateful to our partners, whose trust has enabled us to move forward."
'Hydro-Québec is pleased to announce alongside its partners this important milestone in the development of the Seigneurie de Beaupré wind farms,' said Mathieu Johnson, Senior Vice President, Wind Power, R&D and Energy Trading. 'We are moving forward with our ambition to reach an additional 10,000 MW of wind power capacity by 2035, helping to secure a clean and prosperous energy future for Québec.'
Financial Highlights
The Des Neiges – Secteur sud project financing includes:
A $733 million construction loan, which will convert to a term loan following the start of deliveries of electricity, scheduled for the fourth quarter of 2026;
A $170 million bridge loan, allowing the financing of the refund to be received for the switchyard. This short-term facility will reduce the amount of equity capital allocated to the project in the short term and thus optimizing the overall capital structure required for the project.
A $57 million guarantees facility.
The Desjardins Group serves as Administrative Agent for this financing.
Next Steps
The general contractor, Borea Construction, has been mobilized on site for preliminary work since December 2024. Borea will then collaborate with Québec companies and suppliers for the bulk of the site work, which is scheduled to begin more formally in the coming months.
Once operational, the project's 57 wind turbines are expected to generate 1.2 TWh per year, equivalent to the energy consumed annually by around 70,000 homes or 325,000 electric vehicles on Québec roads. The Des Neiges - Secteur sud wind project is the first of three potential 400 MW wind power projects on Seigneurie de Beaupré private lands.
Caution Regarding Forward-Looking Statements
Some of the statements contained in this press release, including, without limitation, those regarding the economic impact of the project and monetary contributions proposed to host communities, the employment opportunities to be created by the project, the start date of site work and electricity deliveries, and the amount of power to be delivered by the project, are forward-looking statements based on current expectations, within the meaning of securities legislation. Boralex would like to point out that, by their very nature, forward looking statements involve risks and uncertainties such that its results or the measure it adopts could differ materially from those indicated by or underlying these statements or could have an impact on the degree of realization of a particular forward-looking statement. Unless otherwise specified by Boralex, the forward-looking statements do not take into account the possible impact on its activities, transactions, non-recurring items or other exceptional items announced or occurring after the statements are made. There can be no assurance as to the materialization of the results, performance or achievements as expressed or implied by forward-looking statements. The reader is cautioned not to place undue reliance on such forward-looking statements. Unless required to do so under applicable securities legislation, Boralex management does not assume any obligation to update or revise forward-looking statements to reflect new information, future events, or other changes.
About La Société de projet BVH1, s.e.n.c.
Société de projet BVH1, s.e.n.c. is a corporation created jointly by Boralex Inc. Énergir Développement Inc. and Hydro-Québec, through affiliated companies, for the development and operation of the Des Neiges - Secteur sud wind power project. The project will be located entirely on Seigneurie de Beaupré land, on the unorganized Lac-Jacques-Cartier territory in the La Côte-de-Beaupré RCM, and will have a total capacity of 400 MW.
For more information
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
39 minutes ago
- Globe and Mail
Building Resilience: McLean & Company's Research Unveils the Formula for Thriving HR Teams
Research from global HR research and advisory firm McLean & Company offers HR leaders a practical roadmap for building resilience within their teams. As workplace demands rise, the firm's refreshed blueprint will help HR professionals strengthen their ability to manage stress, navigate change, and elevate their impact across the organization. TORONTO , June 5, 2025 /CNW/ - As the workplace continues to evolve at breakneck speed, HR teams find themselves at the center of increasingly complex challenges, and resilience may be the key to transforming pressure into progress. McLean & Company's latest research refresh, Build a Resilient HR Organization, provides HR leaders with a clear and actionable framework to help their teams not just survive but thrive in today's demanding environment. "Work resilience is not something HR is just born with; it takes awareness and effort to develop," emphasizes Kelly Berte, practice lead, HR Research & Advisory Services at McLean & Company. "HR organizations must recognize the importance of building their own resilience and ensure they are actively practicing resilient behaviors to help meet the evolving demands of the role and the organization." The firm reports that the scope of work undertaken by HR professionals is far-reaching – they act not only as policy experts but as change agents, emotional first responders, and strategic partners. According to McLean & Company's 2025 HR Trends Report data, 36% of HR professionals report experiencing higher stress levels compared to the previous year, and 68% say they face capacity issues that prevent them from meeting key priorities. The report also reveals that half of HR leaders now see HR as an essential partner in organizational strategy – a five-point increase from the year before. McLean & Company cautions, though, that without resilience, the emotional demands of the role can quickly lead to burnout, disengagement, and turnover, which can undermine HR's ability to support the business when it's needed most. McLean & Company's recently published resource includes a three-step process designed to strengthen resilience across HR teams. It begins with defining HR's resilience needs, helping leaders assess the current state and pinpoint resilience gaps. The next step involves selecting resilience techniques that are practical and targeted to address the team's specific challenges. Finally, the last step focuses on preparing to launch these techniques, supported by a thoughtful communication and monitoring plan that ensures progress is sustained over time. The impact of resilience on HR teams is both measurable and meaningful. McLean & Company's 2023 HR Trends Report reveals that HR professionals who rate their teams as highly resilient are 24% more likely to find purpose in their daily work and 18% less likely to report feelings of burnout. Perhaps most importantly, the report reveals HR teams that experience lower stress levels are 1.2 times more likely to be seen as highly effective by their organizations. This insight underscores how resilience can amplify HR's influence and ability to drive business outcomes. "Similar to other professions like nursing and social work, to effectively care for others, HR must first care for itself," Berte notes. "Just like on an airplane, HR must put on its own oxygen mask first to support the organization." The firm advises that by prioritizing their own resilience, HR teams set the tone for the entire organization, modeling the adaptability, wellbeing, and growth mindset that drive sustainable practices and setting the tone for future success. Organizations interested in exploring adjacent areas such as culture, wellbeing, or foundational HR strategy may also benefit from McLean & Company's Organizational Culture Workshop, Holistic Wellbeing Program Workshop, or Strategic HR Essentials training program. For media inquiries or to connect with McLean & Company analysts for exclusive, research-backed insights on HR resilience, wellbeing, and talent management, please contact Communications Manager Katie Tame at ktame@ About McLean & Company McLean & Company pairs evidence-based research and immediately applicable tools with deep HR expertise to position organizations to meet today's needs and prepare for the future. The global HR research and advisory firm's member organizations enjoy comprehensive resources, full-service diagnostics, workshops, action plans, and advisory services for all levels of HR professionals, from executive leadership to HR leaders to HR team members, that help shape workplaces where everyone thrives. McLean & Company is a division of Info-Tech Research Group. ktame@
Toronto Star
an hour ago
- Toronto Star
A New Era for the Canada-U.S. Relationship
TORONTO, June 03, 2025 (GLOBE NEWSWIRE) — Today, the Empire Club of Canada, in partnership with the American Chamber of Commerce in Canada (AmCham Canada), will host a special event 'A New Era of the Canada-U.S. Relationship' with the Honorable Pete Hoekstra, the newly appointed U.S. Ambassador to Canada. Ambassador Hoekstra's remarks will address current affairs, including trade and security, while also reflecting on how to build on the long tradition of cooperation and friendship between Canada and the United States.
Globe and Mail
an hour ago
- Globe and Mail
Plunge in automotive exports leads record Canadian trade deficit
Canada's exports of automobiles to the U.S. fell by 23 per cent in April as vehicle makers cut production in the first month that President Donald Trump's tariffs kicked in. Combined with parts, automotive shipments to Canada's largest trading partner plunged by more than 17 per cent in value from the previous month, the largest sectoral drop in merchandise trade shipments reported by Statistics Canada on Thursday. Carmakers based in Ontario have responded to the tariffs by slashing production, idling assembly lines and laying off workers. 'The tariff impacts are significant, and it makes it very challenging to build a vehicle in Canada and export it to the U.S. in the face of a 25-per-cent tariff,' said Brian Kingston, president of the Canadian Vehicle Manufacturers' Association, which represents Ford Motor Co., General Motors and Stellantis NV in Canada. The U.S. and Canadian auto industries are highly integrated, an efficient system built on decades of free trade. The U.S. is the buyer of almost all of Ontario's auto production, Mr. Kingston noted by phone. Mr. Trump says his rollout of tariffs on most trading partners is intended to bring home manufacturing and spur countries to stop the flow fentanyl and illegal migration while balancing trade. His tariff policies have changed repeatedly, leading to chaos in the auto industry and other sectors. The U.S. auto industry has called the tariffs inflationary and bad for sales and production. It takes years and billions of dollars to move supply lines and factories, industry members and experts say. 'This data just underlines the importance of getting to an agreement with the Americans as quickly as possible, removing these tariffs and returning to North American automotive production,' Mr. Kingston said. Canadian-assembled vehicles are subject to a 25-per-cent tariff, reduced by the amount of U.S. content, which is typically about 50 per cent. Canadian parts enter the U.S. tariff-free but are subject to duties when attached to a Canadian-made car. Canadian auto-parts factories depend on vehicle assembly plants for about half of their sales. Ahead of the tariffs, Canadian vehicle exports rose by 21 per cent, Statistics Canada said, as U.S. importers rushed to beat the duties. Flavio Volpe, head of the Automotive Parts Manufacturers' Association and represents Canadian suppliers, said the tariffs are hurting companies in Canada and the U.S. He noted three of Ontario's vehicle exporters are Detroit-based. 'We're so intertwined, half of that effect is being borne by American balance sheets,' Mr. Volpe said, calling the drop in shipments a 'self-inflicted wound.' Ontario is home to a Stellantis NV minivan and Dodge Charger plant in Windsor; a General Motors pickup truck plant in Oshawa and a parcel van factory in Ingersoll; a Honda factory in Aliston; and Toyota plants in Cambridge and Woodstock. Two other sites are closed and awaiting retooling for new vehicles: Ford Motor Co. in Oakville and Stellantis in Brampton. Since the tariffs kicked in, GM and Stellantis have announced layoffs, production reductions or delays and periodic shutdowns of assembly lines. Honda has delayed a massive electric vehicle project.
